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’Femi Asu
Investors in the nation’s stock market lost N426bn on Wednesday as 37 firms recorded price decline.
The market extended its losing streak to the eighth straight trading session amid negative sentiment.
The All-Share Index of the Nigerian Stock Exchange fell by 1.96 per cent to 40,696.01 basis points while the market capitalisation dropped by N426bn to N21.29tn.
The top five losers at the end of trading on the floor of the NSE were CAP Plc, Sunu Assurances Nigeria Plc, eTranzact International Plc, Fidson Healthcare Plc and Regency Alliance Insurance Plc.
CAP, Sunu Assurances Nigeria, eTranzact International, Fidson Healthcare and Regency Alliance Insurance saw their share prices drop by 10 per cent each to close at N18, N0.81, N2.25, N5.40 and N0.27 respectively.
Trading on the Nigerian Stock Exchange sustained positive sentiment for the third consecutive trading session on Wednesday as the market capitalisation gained N181bn.
The NSE All Share Index and market capitalisation, rose by 0.83 per cent as market sentiments extended gaining streaks, following investors’ sustained optimism on undervalued stocks.
The market breadth closed positive as there were 35 gainers at the close of trading session while decliners closed at 21.
Consequently, the All-Share Index rose by 345.79 basis points or 0.83 per cent to close at 41,930.73 index points as against 41,584.94 recorded the previous day.
Market capitalisation of equities appreciated by N181bn or 0.83 per cent to close higher at N21.93tn from N21.75tn as market sentiment remained on the green territory.
By Goddy Egene
The stock market surged further yesterday with the Nigerian Stock Exchange (NSE) rising 1.21 per cent to close at 41,584.94 as companies begin to release their unaudited financial results for the year ended December 2020.
Apart from the benchmark index that appreciated, market capitalisation added N259.4 billion to close at N21.8 trillion. Similarly, activity level advanced as volume and value traded rose 40.5 per cent and 110.8 per cent to 467.9 million shares and N5.6 billion respectively.
The bulls were in total control of the session yesterday as 32 stocks appreciated, while 19 depreciated. Although gains by Airtel Africa Plc, MTN Nigeria Plc and Lafarge Africa Plc influenced the rise in the NSE ASI, RT Briscoe Nigeria Plc led the price gainers’ table with 10 per cent.